The US Treasury Secretary, Scott Bessent, stated that President Trump’s proposal to give each person $2000 in bonuses may be distributed in the form of tax cuts rather than direct payments.
On Sunday, Bessent, in an interview with George Stephanopoulos on ABC News’ “This Week,” mentioned that he has not yet discussed the proposal with the president but hinted that the cash payout could take various forms.
He said, “I haven’t talked to the president about this yet, but… this $2000 bonus could take many forms, many ways.”
“This may be one of the tax-cut measures we see on the president’s agenda,” he added. “Tips tax-free, overtime pay tax-free, social security tax-free, and car loans can be tax-deductible. These are significant tax breaks and are all included in the tax reform bill.”
President Trump earlier on Sunday posted on his social media platform, “Truth Social,” stating that most Americans will receive “at least” $2000 in bonuses and introduced the financial revenues resulting from the comprehensive tariff policy.
He wrote, “Those who oppose tariffs are fools! We are now the wealthiest, most respected country in the world, with almost no inflation, and the stock market has reached historic highs. 401(k) retirement account balances are also at all-time highs.”
“We are generating tens of billions of dollars in revenues and will soon begin repaying the massive $37 trillion debt. American investments are hitting record highs, and factories and businesses are springing up everywhere,” he continued. “Everyone will receive at least $2000 in bonuses (excluding the high-income groups!).”
On Monday, the president posted again about giving money to the people. He wrote, “All remaining funds, including the substantial tariff revenues pouring into our country from abroad – which are massive – will be used to significantly pay off the national debt, funds that were initially intended to distribute $2000 subsidies to low to middle-income American citizens.”